Laissez Faire-Monopolies and Political Machines

Laissez Faire- Monopolies and Political machines

Period: Jan 1, 1868 to Jan 1, 1903

The government neglected the people leaving them on their own allowing monopolies and big businesses to rise.

Railroad Success

May 10, 1869

Due to railroad success many other industries such as oil and steel saw their oppurtunity to take risks and become big buisnesses

Rockefeller's oil monopoly

Mar 26, 1880

Rockefeller's buisness developed into a monopoly in the early 1880s.

Sherman Anti-trust Act

Jul 2, 1890

Due to the Sherman Anti-trust Act, monopolies resurged and the economy dropped. The Sherman Anti-trust Act allowed buisnesses to sell their buisnesses to a bigger company.

Carnegie monopoly

Jan 1, 1900

andrew Carnegie owned the biggest steel business at one time which developed into a monopoly